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23 Apr 2013
Forex: GBP/USD in red ahead of UK data
FXstreet.com (Barcelona) - The sterling is following the rest of the risk-associated assets to the negative territory on Tuesday, ahead of UK data due later. In fact, UK Public Sector Net Borrowing is expected to increase to £14 billion in March from £4.356 billion in the previous month, while the CB Industrial Trends Survey-Orders is forecasted at -14% in April vs. -15% in the prior month.
As of writing, the cross is down 0.21% at 1.5258 with the next support at 1.5199 (low Apr.5) ahead of 1.5190 (38.2% of 1.4832-1.5412) and finally 1.5122 (50% of 1.4832-1.5412).
On the flip side, a break above 1.5245 (MA21d) would expose 1.5370 (high Apr.17) and then 1.5386 (high Apr.15).
As of writing, the cross is down 0.21% at 1.5258 with the next support at 1.5199 (low Apr.5) ahead of 1.5190 (38.2% of 1.4832-1.5412) and finally 1.5122 (50% of 1.4832-1.5412).
On the flip side, a break above 1.5245 (MA21d) would expose 1.5370 (high Apr.17) and then 1.5386 (high Apr.15).